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Romney Enjoyed At Most 87% Of His $21mm Income In 2010
"I paid taxes every single year" is how Mitt Romney retorts to Harry Reid's charge that he paid no taxes in some years. As Bloomberg reports, after review of his tax returns over the last decade, Romney always paid at least 13% of his income in taxes. Romney has released his 2010 return, which shows that he paid an effective tax rate of 13.9 percent on more than $21 million in income, most of it from capital gains and dividends.
"The fascination with taxes I’ve paid, I find to be very small-minded compared to the broad issues that we face," Romney told reporters adding that he is "waiting for Harry [Reid] to put up who it was that told him what he says they told him. I don’t believe it for a minute, by the way.”
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he bought struggling companies at bargan prices to close them, lay of the workers, sell off the physical assets and take checks from their competition. He does not care about job creation thats for sure.
"The fascination with taxes I’ve paid, I find to be very small-minded compared to the broad issues that we face," Romney
The fact you only paid 14% when I paid 38% is entirely the issue. It's called class warfare.
"The fascination with taxes I’ve paid, I find to be very small-minded compared to the broad issues that we face,"
Ok Mr. Romney, please describe your policies and how they will address these "broad issues that we face".
We have been waiting to hear for months. An we are still waiting...
Perhaps you should try listening. He muttered it right between telling us how he was going to throw grandma under the bus by ending Medicare and how he was going to put all those minorities back in chains. See? You weren't listening carefully enough.
no smarmey title for Romney, eh Tyler?
<<be like Mitt, pay little
<<be like Obama, pay little
Why doesn't Romney just keep it simple and say that he paid X amount of taxes (incl income tax, SS tax, Mediare, etc.) on the original income that is now only investment money. The money upon which he is now paying 13% tax are the dividends and cap gains he is now receiving on this ALREADY TAXED money. What's the problem? What's the big deal? It's all populist bullshit. Everybody who has a cap gain or dividend income is in the same boat. Who cares?
Class warfare doesn't work if you're going to apply logic.
What the hell do I care how much or little of the socialist Income Tax Romney paid?
The income tax code allows all sorts of legal and valid ways to pay less tax. Those provisions are there for a reason, like them or not. If you don't like them, agitate to change the law, but stop trying to smear someone who is smart enough to keep more of his money.
Is there evidence that Romney violated laws? Yes? Then charge him. Otherwise, STFU.
so your a simpeton and an ass. bad conbination.
Yeah, simpetons that conbine with stuff suck.
And you're spelling-challenged. So what? And...is you caps key broken?
is that all u got? yes, im spellign challenged and my caps key is are stuck. at least my tyops arent from hair grease dripping from my forehead old timer.
Sheesh. You might want to check your spelling before suggesting that somebody else is stupid.
Nosce te ipsum
This is just more acting to keep the plebes thinking that they have to pay taxes, because it is their responsibility to keep the debt machine rolling.
Let him keep all his money. He earned it. If you don't believe this then you must vote for Obama.
its not like he sold some oranges on the roadside to feed his family roberto. he leached off of hundres of other hard working families and stole their wealth and livleyhood to make that $. But ists ok, you dont have to ahave any morales hombre. Keep on truckin
Riiiight.
"He didn't make that money. He leeched it off somebody else."
There's nothing but downside to meth, dude.
dumbfuck Romney took out unnesecary debt on 4 healthy companines during his time at Bain and overleveraged them, took money in the form of dividends to pay out himself and other execs and as a result those companies went bankrupt. 1000's of people lost their jobs. Dude.
You have a point there but why was he allowed to do that? The people elected the politicians that made that possible. The shareholders let it happen.
Mitt..ScotiaBank of the Caymans. Try them out. Also, explain who the rich NEED gov't to craft favorable tax status for them. Explain how business and the like constantly lobby gov't for nice regs and legislation that dumps the cost of running the US onto the middle class.
how much did stretch pelosi pay? What did obumhole, Barbara boxer, harry jerry reid, or chuck the smuck schumer pay? What are the percentages of all the demoshit multi millionaires. They want to force everybody else to pay the mafia taxes but want to pay the minimum themselves. Anybody who votes to raise taxes should be taxed to death themselves. More bs from the left trying character assassinations on Romney.
your fuckin killin me. charachter assasination on Romney!? that guys charachter has been a dead rotting corpse for 15 years now. His charchter is as crispy as the corpse in Weekend at Bernies II
After a 80 hour workweek, made $3,400! Woo hoo turns quickly to boo hoo. Allow me to itemize the thefts.
Federal Witholding Tax
F.I.C.O
State Taxes
Local taxes
supplemental Dues
Vacation
After that was subtracted, we have roughly $2,000 as the "pay" amount. After taxes, we still have to pay out $200 for health insurance weekly. Looking at the actual $ made, but not able to keep, is beyond depressing.
I think my little sis who lives in a govt subsidized house, has free (to her) health insurance, food and daycare, AND is getting an education might have more disposable income than me.
The headline is false. Income tax is figured out on AIG, there is no telling what Romney's Gross Income is? That 13.9% might be 5% when correctly computed as percentage of gross income.
I would do the same thing that Romney has done with his taxes. If he didn't do anything illegal get off the guys back. Why would I want to give more of my money to the f'ing Government.
If this guy get 4 more years our country is over. This man hates America.
would you do the same thing Romney did to other Americans to make the $ that he did? A lot of people out there are completely fine with being a dirtbag. that is the problem with the world today.
Do what? Close a company that's losing money instead of going to the government for a handout...
Lemme see...
Close it!
13.9% as a percentage is high enough. If you look at what he paid in dollars, it is highly unlikely that he will ever get back a fraction of what he paid in.
In any case, as Judge Learned Hand stated, you only have an obligation to pay what is due under the tax code - not a penny more.
The Democrat multi-miilionaires are all hypocrites - I can guarantee you that they never pay a penny more that what is owed.
Romney needs more offense and less defense.
"Why was his dog on the roof?"
PUHLEASE
Stick to the economy and what BO has NOT done for the last 4 years.
Meanwhile, $100 million of MF Global client's money goes missing. They can't be bothered to investigate it. Bernie Madoff is not going to get to see a bunch of his investing buddies.
Romney has no reason not to release his tax returns except for that fact that he is a bitch. If I worked for the IRS I would leak dat shit.
I pay more taxes than Romney.
What an entire jokes taxes have become. I say get rid of em just because man is too greedy to kno what to do when he is given money.
BTW, 3-1 Romney is lying about the rate AND the every year part.
So you paid more than $2.7 million in taxes last year ...
Do you play in the NFL? The NBA? The MLB? Or are you part of the squid?
3-1 you're lying about how much you paid in taxes last year.
Wow! More Obamaturd supporters here than usual... Silverserfer is a true asshole... only a fool gives his enemy more ammo... Maybe if "Roid" Reid and "Polyp" Pelosi agree to resign immediately if Mitt proves that he paid any taxes in the last ten years... I wonder if Assange can get Obama's college application records or his passport records... I thought a Freedom of Info request would get that done, but BO has paid $4 million so far to fight all efforts... nothing to hide here, fellow Kenyan muslims... er... Americans Just think, if those records come to light, he is immediately impeached as a non-citizen.
being called an asshole from a person from you is a compliment. there is nothing more heartwarming that getting partisan dipshit like you roiled up. I bet you grease your hair back just like Limbaugh. Does your crazy eye compensate for the lazy one?
I thought that zerohedge was more or less "libertarian". With a bullshit article like this, I have to second guess.
The government doesn't deserve ANY of Mitt Romney's earned money. It's ALL legalized theft.
What is bullshit about an article stating what effective tax rate Romney paid?
Do you have something showing that the math is incorrect, and if not exactly where does the bullshit part come in?
the reason mitt cannot release hit tax returns is because in 2008---he had to file his donations to the obama campaign. he made large donations of over 3 million dollars to ensure he would get a chance to run as the nominee , instead of waiting for mccain to die.
true story.
+1 ... for being funny ... and probably true.
When the subject of a thread is politics rather than finance or economics a lot of harsh and truly stupid shit gets said, and it is ALL opinion, so here is mine:
Romney made a horrific mistake by allowing Bloomberg to examine his tax returns and issue generalized statements about them as if that would answer any questions and put the matter to rest. In fact he would have been better, stronger appearing had he simply just stuck to his guns and refused to divulge any more information.
This claim if we can believe it in which he supposedly paid at least 13% of income in each of the last 10 years only disproves Reid's and others claims that he had years of no payment at all, but 13% is simply not good enough for the vast part of the population that pays double or more than that on far less resources. It also leaves people to speculate that while 13% might be the lowest of the 10 years 14% might also have been the highest.
This also does not illustrate for the voters how he achieved such a low rate of taxation on such a magnificent income. Did he manage it by vast contributions to his neo Nazi church? Did he do it by funding some charity most voters would not approve of? Did he do it by using UGMA to gift thousands of mormon "relatives" who in turn avoided taxes by gifting the church? Maybe there was a million or two in there for the Prop 8 campaigns to overturn legal gay marriage in a state he was not a resident of? We know that that wealthy and prominent mormon non California resident contributors were the financial force behind the Prop 8 campaign, and with more than 50% of the nation now OK with gay marriage this might not sit well with many undecided independent voters.
A lot of things can be speculated that would not have been had he either simply released the documents or pretended to be deaf on the issue, but now he has raised the accusation of Harry Reid to one that will go down in electoral history as among the most effective jabs at an opposition candidate in modern history. Now nothing short of release will satisfy enough voters to severely damage his credibility, and yet if he does release the tax forms he looks weak, and no matter which he does he is on the defensive and unable to control the atmosphere of the campaign, this is about as bad for him as the false accusations levied at Kerry, Romney has been Swiftboated by Reid and I for one am enjoying the theater very much!
"but 13% is simply not good enough for the vast part of the population ... that indolently counts on Romney's capital transfer to the government for their survival ..."
FIFY.
Anyone spouting that line of B.S. about Romney not paying his "fair share" when he gave $3 million to government and another $3+ million to charity is making the wrong argument. When 47% of the American public PAYS NO FEDERAL INCOME TAX ... our problems are far greater than what some rich asshole did pay in taxes each year.
/Not a rich asshole. Middle class. In the 53% that pays my fair share ... so leave us alone leeches.
Three million? Where did you study math? When a middle class single male pays 50% of his earnings to federal state and local taxes plus property taxes and fees because of privatizations of what used to be government provided, then MitT fucking Romney better be paying the same or more on that 21 million or he will not be president no matter how much you do not like that fact! By the way, eat me!
Me: $75K ... 20% income tax (state and federal, fica, ssn etc. after deductions) ... $15K
Romney: $20 million ... 13% tax (capital gains tax with deductions) .... $2.6 million
Your 50% tax is dishonest as both Mitt and I pay the same PROPERTY, SALES, EXCISE, etc. tax rates no matter our income (based on our consumption, where we live, etc.) ... but then I'd guess you think that Mitt gets a "rich guy" discount when he goes to the gas station or the "rich guy" discount when he buys food ... of course, you know this is a lie and post the same bullshit talking points of Marxist class warriors with a jealous bent ...
For some reason, I think I'm doing okay and don't share your class envy ...
/Should have realized I was conversing with an OWS sock puppet before I replied to your original diarrhea commentary ... with a name like "boiltherich" ...
Romney spent his four years here in the Commonwealth as the .governator and earned $4.00 total as salary. Why, he should have gone on our EBT program, lost his card 1/2 way through each month, and made a fortune!
- Ned
{for all y'all math-challenged, that would make him a "dollar-a-year" man, so revered in the FDR admin.}
Obama is a bunghole.
It is called an INCOME TAX. If you have no income you should pay nothing. Romney has been unemployed for years now meaning he has no income. With no income he should not have to pay taxes, right? Ideally, but he had investment income which he did pay taces on. Everyone is so uptight about this, but seriously, the guy paid taxes when he made the money and now he is paying taxes on the interest he is making on the money... double taxation anyone? Give it a freaking rest. It is stupid. Yeah, the guy is rish, so is Obama and every other politician. Why not look at Barney Frank's taxes the man has been a career politician yet he has an investment portfolio in the 7 figures mostly in municiple bonds which are.... TAX-FREE so does that mean Barney Frank is cheating America???? No and either is Romney.
Oh, and having a Swiss bank account or a Cayman Island bank account is not "hiding" money from the government because if he were hiding it we wouldn't freaking know about those accounts. People open thise accounts, mostly the rich, for some tax advantages, not many left, and for unique investment opportunities that may not be open to US investors. There are many reasons to have those accounts. By the wau Zero Hedge Fav Alan Grayson has like $50M in an offshore trust in a Sount Pacific island I have never heard of... why?? Where is the flack over that??
Do i like Mitt? No a freaking chance. Do I like Obama? Pleeeeaaassseee. Point is this is stupid. If the IRS ain't after him he did nothing wrong, period. Report real things like how the Naziesque Homeland Security is working on interstate travel documents.
If Romney spends all of his time defending against ridiculous Democrat lies, Obama wins.
If everyone would just step back and enjoy the show......
Let them eat eachother while we continue to insulate ourselves.
Cannibalism has already commenced amongst criminals and racketeers.
I'm long popcorn, and good dark sludgy beer.
I stepped back today, I stepped on over to the voter registrars office and changed my address and affiliation from not affilliated to democrat! If the world is going to end either way I want it to end with the wealthy getting boiled in oil alive until they find out there is no god or afterlife and that all the hate they spewed and rights they deny other citizens were the total cause of their own demise. Then I will be happy.
Just out of morbid curiousity, at what level of income or bank account to you advocate flat out execution?
The 50 richest Jews, so we can stop having all those goddamned wars for kike benefit.
Henry Ford was a spitfire. :)
Last thing I will say about it, Romney is going to lose in a major historic landslide because he is the fucking poster child of the 1% and America is not quite as dumb as you all seem to think, you want a certain investment? Short Romney/Voldamort because no matter what you or the right think we are in a depression of the 1% making and even when people do not have the education or smarts to know Romney is at the root of that theft they feel it in their guts, they just plain know that Romney would be the worst thing they could do to the nation. People do not like Obama much, but they hate Romney.
I understand that this is oversimplifying but it is the way I see it.... If the govt is going to forcibly take about/at least 23¢ out pf every dollar I make...then why the fuck are they only taking 13¢ of every dollar someone else makes? It's not right for them to be taking it at all and I would prefer a flat tax and/or consumption based tax. Since we don't have that, how can you fault people for being pissed that the MF'ers who make the laws and who get paid off to make said law are paying LESS than we are? For me, it's not about legal vs illegal, although I feel strongly that some stuff he is hiding is illegal. For me it's more about how effed up the tax code is and electing someone who benefits from it being effed up will probably not result in it getting better but probably worse.
By the way... his choice to donate to his church or to a charity do not change anything. I would like to donate to some causes of my choosing as well and if my taxes were reduced by 10% and I paid the same rate as romney, maybe I could better afford to make those donations.
Isn't it great how we've got this economic sink hole to deal with and then out of nowhere, the story will be about Medicare?
Don't get me wrong, it is an issue. But maybe Seventh on the short list.
How entertaining that a right wing think tank invented the healthcare plan. The left tried to make it theirs. The right talking heads labeled it Obamacare. And the left is dealing with a guy who did the same thing in the state he once governed.
It's all a game of the same and they work so hard at levels of distraction.
There, I just gave every single post on both pages a red arrow without reading any of them to prove I am every bit as thoughtful as a right wing douchebag religious Romney supporting moonbat as most of you are, do I qualify to vote republican yet?
I really don't understand what the big deal is. Most of his income is from dividends and cap. gain. It is taxed at the federal level at 15%. If he gives a bunch to charity it will lower the effective rate. Or, maybe he has a bunch of tax free muni bond holdings.
This is all about the fact that he is rich. That is it. Well, so is Obama! Every one of these fuckers are rich.
I am a CPA; taxes are my bread and butter. I have seen people earn $100K and pay no tax. Did they cheat? NO. They used the law to pay less.
MOVE ON. This discussion is meant to polarize the debate of taxes.
I may be wrong but I look at it like this. Obama had his chance and blew it. Although people predict what Romney will do if he is elected as President, none of us actually do know. People predicted what Obama was going to do and they were wrong.
I could care less what Romney paid.